IFRS net profit of FGC UES rises 29.5% to 39.9 bln rbl in Jan–Jun

MOSCOW, Aug 22 (PRIME) -- The net profit of Russia’s Federal Grid Company of Unified Energy System (FGC UES) rose 29.5% on the year to 39.9 billion rubles in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Wednesday.

Revenue went up 15.7% on the year to 117.5 billion rubles in the period.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) shrank 1.4% to 69.2 billion rubles as the income of FGC UES from fines and overdue interest contracted by 600 million rubles, and financial incomes fell by 400 million rubles due to smaller dividends paid by power holding Inter RAO, the company said.

(67.1783 rubles – U.S. $1)

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